Zacks Research Has Negative Forecast for AXSM Q3 Earnings

Axsome Therapeutics, Inc. (NASDAQ:AXSM) – Investment analysts at Zacks Research reduced their Q3 2024 earnings estimates for shares of Axsome Therapeutics in a note issued to investors on Monday, October 21st. Zacks Research analyst R. Department now forecasts that the company will earn ($1.52) per share for the quarter, down from their prior forecast of ($1.42). The consensus estimate for Axsome Therapeutics’ current full-year earnings is ($4.73) per share. Zacks Research also issued estimates for Axsome Therapeutics’ Q4 2024 earnings at ($1.31) EPS, FY2024 earnings at ($5.16) EPS, Q1 2025 earnings at ($1.52) EPS, Q2 2025 earnings at ($1.33) EPS, Q3 2025 earnings at ($0.83) EPS, Q4 2025 earnings at ($0.47) EPS, FY2025 earnings at ($4.15) EPS, Q1 2026 earnings at ($0.59) EPS, Q2 2026 earnings at ($0.02) EPS and Q3 2026 earnings at $0.83 EPS.

Several other research analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada lifted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $124.64.

Axsome Therapeutics Stock Down 3.8 %

Axsome Therapeutics stock opened at $88.83 on Wednesday. Axsome Therapeutics has a twelve month low of $55.02 and a twelve month high of $98.40. The firm has a 50 day moving average price of $90.02 and a 200-day moving average price of $81.94. The company has a market capitalization of $4.22 billion, a P/E ratio of -13.92 and a beta of 1.26. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The firm had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Axsome Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after buying an additional 43,512 shares during the period. Millennium Management LLC boosted its position in shares of Axsome Therapeutics by 1.4% during the second quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock worth $59,555,000 after acquiring an additional 10,401 shares during the last quarter. Bellevue Group AG raised its stake in Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock valued at $54,701,000 after purchasing an additional 50,104 shares in the last quarter. Hood River Capital Management LLC raised its stake in Axsome Therapeutics by 5.4% during the second quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after purchasing an additional 28,316 shares in the last quarter. Finally, Sofinnova Investments Inc. purchased a new stake in Axsome Therapeutics during the second quarter valued at $24,971,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.